Starbucks tax protest ‘under way’

8 December 2012 Last updated at 08:07 ET

Danni Wright, UK Uncut: “Starbucks should be paying the appropriate amount”

Tax avoidance campaigners say they are protesting at Starbucks cafes across the UK, despite the firm’s pledge to pay millions of pounds of extra corporation tax for the next two years.

The organisers, UK Uncut, say the coffee company’s promise to pay £20m is “a desperate attempt to deflect public pressure” from itself.

Starbucks said it had offered to meet protesters to “discuss their concerns”.

Starbucks’ “flagship” store in central London was said to be virtually empty.

UK Uncut said it was also highlighting the impact of government cuts on women, and planned to transform at least 40 Starbucks stores into “refuges, crèches and homeless shelters”.

BBC political correspondent Ben Geoghegan said the Starbucks “flagship” store in Conduit Street, central London, had been “virtually empty” following protests.

He said about 60 or so protesters were now thought to be heading to another Starbucks branch nearby.

UK Uncut said it had already heard from demonstrators gathering at ten outlets in London, Birmingham, Oxford and Nottingham.

Staff at the coffee chains were not being targeted, they added.

‘Tip of the iceberg’

UK Uncut spokeswoman Anna Walker said: “What Starbucks has done is offer a £20m PR stunt that’s coming straight out of their marketing budget.

“They haven’t offered or committed in any way to change the way they deal with their tax affairs in the UK or globally.”

“Starbucks is the tip of the iceberg when it comes to multinational companies tax avoidance – what we want to do is see the government clamping down on tax avoidance in a very real way.”

She added the government’s failure to recoup tax from such companies was leading to harmful austerity.

In a statement, a Starbucks spokesperson said: “Our highest priority is and remains the safety of our customers and employees. We trust that UK Uncut will respect it.

“We offered to meet with UK Uncut to discuss their concerns and make the protest a safe event for all involved. This invitation remains open.”

It added the company had “listened to our customers” and was “making a number of changes in our business to ensure we pay corporation tax in the UK” – something it urged UK Uncut and other concerned parties to “carefully consider”.

‘Unprecedented’

On Thursday, Starbucks revealed it would pay “a significant amount of tax during 2013 and 2014 regardless of whether the company is profitable during these years”.

The company has faced increasing public anger over its tax affairs, with some calling for a boycott of its outlets.

The company paid just £8.6m in corporation tax in its 14 years of trading in the UK, and nothing in the last three years – despite UK sales of nearly £400m in 2011.

Starbucks now says it expects to pay around £10m in corporation tax for each of the next two years, a move described by tax experts as unprecedented.

Speaking to BBC Radio 4′s Today programme, Exchequer Secretary to the Treasury David Gauke said HM Revenue and Customs must deal with all tax payers even-handedly.

He said: “If a taxpayer wants to pay more than is required under the law then that is really a matter for them. It’s a voluntary donation really rather than tax.”

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Election underscores Ghana’s democratic reputation

ACCRA, Ghana (AP) — Voters in Ghana selected their next president Friday in a ballot expected to mark the sixth transparent election in this West African nation, known as a beacon of democracy in a tumultuous region.

Proud of their democratic heritage, residents of this balmy, seaside capital trudged to the polls more than four hours before the sun was even up, standing inches apart in queues that in some places stretched 1,000-people deep.

By afternoon, some voters were getting agitated, after hitches with the use of a new biometric system caused delays at numerous polling stations.

Each polling station had a single biometric machine, and if it failed to identify the voter’s fingerprint, or if it broke down, there was no backup. At one polling station where the machine had broken down, a local chief said he’d barely moved a few inches: “I’m 58 years old, and I’ve been standing in this queue all day,” Nana Owusu said. “It’s not good.”

Late Friday, when it became clear that large numbers of people had not been able to vote, the election commission announced it would extend voting by a second day. This nation of 25 million is, however, deeply attached to its tradition of democracy, and voters were urging each other to remain calm while they waited their turn to choose from one of eight presidential contenders, including President John Dramani Mahama and his main challenger, Nana Akufo-Addo. The election commission

“Elections remind us how young our democracy is, how fragile it is,” said author Martina Odonkor, 44. “I think elections are a time when we all lose our cockiness about being such a shining light of democracy in Africa, and we start to get a bit nervous that things could go back to how they used to be.”

Ghana was once a troubled nation that suffered five coups and decades of stagnation, before turning a corner in the 1990s. It is now a pacesetter for the continent’s efforts to become democratic. No other country in the region has had so many elections deemed free and fair, a reputation voters hold close to their hearts.

The incumbent Mahama, a former vice president, was catapulted into office in July after the unexpected death of former President John Atta Mills. Before becoming vice president in 2009, the 54-year-old served as a minister and a member of parliament. He’s also written an acclaimed biography, recalling Ghana’s troubled past, called “My First Coup d’Etat.”

Akufo-Addo is a former foreign minister and the son of one of Ghana’s previous presidents. In 2008, Akufo-Addo lost the last presidential election to Mills by less than 1 percent during a runoff vote. Both candidates are trying to make the case that they will use the nation’s oil riches to help the poor.

Besides being one of the few established democracies in the region, Ghana also has the fastest-growing economy. But a deep divide still exists between those benefiting from the country’s oil, cocoa and mineral wealth and those left behind financially.

A group of men who had just voted gathered at a small bar a block away from a polling station in the middle class neighborhood of South Labadi. Danny Odoteye, 36, who runs the bar, said that the country’s economic progress is palpable and that the ruling party, and its candidate, are responsible for ushering in a period of growth.

“I voted for John Mahama,” he said. “Ghana is a prosperous country. Everything is moving smoothly.”

Administrator Victor Nortey, sitting on a plastic chair across from him, disagreed, saying the country’s newfound oil wealth should have resulted in more change.

“I voted for Nana Akufo-Addo,” He said. “Now we have oil. What is Mahama doing with the oil money?” Nortey said. “We can use that money to build schools.”

In an interview on the eve of the vote, Akufo-Addo told The Associated Press that the first thing he will do if elected is begin working on providing free high school education for all. “It’s a matter of great concern to me,” he said, adding that he plans to use the oil wealth to educate the population, industrialize the economy and create better jobs for Ghanaians.

Policy-oriented and intellectual, Akufo-Addo is favored by the young and urbanized voters. He was educated in England and comes from a privileged family. The ruling party has depicted him as elitist.

“The idea that merely because you are born into privilege that automatically means you are against the welfare of the ordinary people, that’s nonsense,” he said.

Ghana had one of the fastest growing economies in the world in 2011. Oil was discovered in 2007 and the country began producing it in December 2010.

Throughout the capital, new condominiums are rising up next to slums and luxury cars creep along narrow alleys lined with open sewers. A mall downtown features a Western-style cinema and is packed on weekends with middle class families. At the same time shantytowns are cropping up, packed with the urban poor.

Polls show that voters are almost evenly split over who can best deliver on the promise of development.

Kojo Mabwa said that he is voting for Akufo-Addo, because he is impressed by his promise of free education. He dismissed critics that say the project is too ambitious. “There is money,” he said. “(The ruling party) has done nothing for us. They are misusing our money.”

Paa Kwesi, a 30-year-old systems analyst, said he doesn’t think Akufo-Addo is making promises he can keep.

“He says he can do free education, but you have to crawl before you can walk. It’s not possible,” he said.

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Associated Press writer Francis Kokutse contributed to this report from Accra, Ghana.

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H&R Block, Zynga, Akamai are big market movers

NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

H&R Block Inc., up 89 cents at $ 18.26

The tax preparer’s quarterly loss narrows, helped by cost cuts. It thinks earnings will grow in the upcoming U.S. tax season.

SAIC Inc., down 41 cents at $ 11.26

The defense contractor’s quarterly earnings fall short of Wall Street expectations, and it’s eliminating 700 jobs to cut costs.

Men’s Wearhouse Inc., down 84 cents at $ 30.51

The men’s clothing store chain cuts its outlook, saying traffic dropped in November and it was more cautious about the rest of the year.

Safeway Inc., up 42 cents at $ 17.88

The grocery store chain moves up payment of its quarterly dividend to December from January to avoid potentially higher taxes.

Nasdaq

Zynga Inc., up 17 cents at $ 2.49

The troubled online games maker’s filing with a Nevada regulator could pave the way for it to enter the lucrative U.S. gambling market.

Vera Bradley Inc., down $ 3.07 at $ 23.14

The handbag maker’s forecast for the current quarter comes in short of Wall Street analysts’ average estimate.

Akamai Technologies Inc., up $ 3.56 at $ 39.06

The company, whose products help deliver online content, strikes a deal to provide services to AT&T customers.

Epoch Investment Partners Inc., up $ 5.78 at $ 27.69

Canada’s TD Bank plans to buy the U.S. asset manager for $ 668 million, a 28 percent premium from Wednesday’s closing price.

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“Star Trek Into Darkness” trailer sports a very vengeful Benedict Cumberbatch

LOS ANGELES (TheWrap.com) – Benedict Cumberbatch carries a galactic grudge in the new trailer for “Star Trek Into Darkness.”

The first look at what’s next for Capt. Kirk and crew is an explosion-rich one, but the best special effect on display in the J.J. Abrams-directed sequel is Cumberbatch‘s Shakespearean-infused threats of global devastation.

“You think your world is safe,” he says in a voice dripping with Coriolanus-like fury. “It is an illusion, a comforting lie told to protect you. Enjoy these final moments of peace. For I have returned to have my vengeance.”

Cue scenes of mayhem and pyrotechnics.

It’s not clear who Cumberbatch – best known his for take on the legendary Baker Street sleuth on the British television show “Sherlock” – will play (Khan?), but he evidently isn’t a fan of Starfleet.

Most of the cast of 2009′s well-received “Star Trek” reboot are returning, including Chris Pine as Kirk and Zachary Quinto as Mr. Spock. “Star Trek Into Darkness” hits theaters on May 17, 2013.

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Brazil government denies media reports of 2010 mad cow case

SAO PAULO (Reuters) – Brazil‘s Agriculture Ministry said on Friday that the country had registered no cases of mad cow disease, denying reports on some local media websites that said the disease had cropped up in the southern state of Parana two years ago.

In a statement on its website, the ministry said a cow that died in Parana in 2010 had tested positive for prions, the proteins believed to cause bovine spongiform encephalopathy, as the disease is formally called.

But the statement went on to say that the animal did not die of BSE and did not have symptoms of the disease.

“The World Animal Health Organization (OIE) in an official communication maintains the classification of Brazil as a country with insignificant risk of BSE,” the statement said.

In 2010, the ministry had also denied reports of a case of mad cow disease after news agencies picked up on the story. The government said it would provide further details on the case later on Friday at a news conference.

A story posted on the website of financial newspaper Valor Economico early on Friday said the cow in Parana had probably died of mad cow disease.

The outbreak of mad cow disease in Europe, North America and Japan a decade ago prompted beef importers to embargo shipments and caused temporary chaos in the industry. Brazil is the world’s largest beef exporter.

(Reporting by Reese Ewing and Gustavo Bonato; Editing by Lisa Von Ahn)

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Sharp fall in UK factory output

7 December 2012 Last updated at 07:42 ET

UK manufacturing output registered a surprisingly sharp fall in October, resurrecting fears of recession.

Output fell by 1.3% from September, the Office for National Statistics said, with food and drink output, notably beer, down following the Olympics.

It was the worst fall since June, when activity was depressed by extra public holidays for the Diamond Jubilee.

It also adds to evidence that the UK economy may be relapsing into recession after a short rebound over the summer.

The ONS’s latest growth estimate suggested the economy expanded 1% in the third quarter of the year, following nine months of mild contraction – in part thanks to the boost from tourist spending during the Summer Olympics.

Guns, beer, coke and drugs

Compared with a year ago, manufacturing output in October was down by 2.1%.

Production of alcoholic beverages was down 10% from September, and 16% from a year earlier.

There were also sharp falls in activity in the coke and refined petroleum, weapons and ammunitions, and pharmaceuticals sectors.

The figure for the wider measure of industrial output, which also includes energy production and mining, was down 0.8% in October, after falling 2.1% in September.

The seasonally adjusted index of production fell by 3% in October 2012 compared with a year ago, the 19th consecutive monthly fall on the same month a year ago.

The figures were worse than economists had expected.

“Very disappointing – triple dip [recession] here we come,” said Alan Clarke at Scotiabank.

“Manufacturing was diabolical. Sadly, I think there is not a lot to suggest that it is temporary. Survey data has been fairly downbeat.”

Potential

The chief economist at the British Chambers of Commerce, David Kern, said the industrial production figures were “bleak”, and added it was clear that “the manufacturing sector is facing major obstacles to a sustainable recovery”.

However, he said there were reasons to be confident about the sector’s prospects.

“Manufacturing is still a significant sector of our economy and is still benefitting from a competitive exchange rate, not withstanding sterling’s rise over the past year… the sector is well-managed, and has the potential to recover.”

Oil and gas extraction fell in the month at the fastest rate since records began in January 1998, although that was partly due to maintenance works, which included the temporary shutdown of the largest oil field in the North Sea.

The news comes in the same week as the government’s Autumn Statement, which said the economy would shrink this year, rather than expand, as had first been predicted.

BBC News – Business

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Ghana election, test of democratic reputation

ACCRA, Ghana (AP) — Voters in Ghana were selecting their next president and a 275-seat parliament in elections Friday, solidifying the West African nation‘s reputation as a beacon of democracy in the region.

Some 14 million people are expected to turn out. President John Dramani Mahama, in office for only five months, is running against seven contenders. A former vice president, Mahama became president in July after the unexpected death of former President John Atta Mills. The 54-year-old is also a former minister and parliamentarian and has written an acclaimed biography, “My First Coup d’Etat.”

His main challenger is Nana Akufo-Addo, a former foreign minister and the son of one of Ghana’s previous presidents. The contender lost the 2008 election to Mills by less than 1 percent. Both men are trying to make the case that they will use the nation’s newfound oil wealth to help the poor.

Ghana, a nation of 25 million, is one of the few established democracies in the region as well as the fastest-growing economy. But a deep divide still exists between those benefiting from the country’s oil, cocoa and mineral wealth and those left behind financially.

In an interview on the eve of the vote, Akufo-Addo told The Associated Press that the first thing he will do if elected is begin working on providing free high school education for all. “It’s a matter of great concern to me,” he said, adding that he plans to use the nation’s oil wealth to educate the population, industrialize the economy and create better jobs for Ghanaians.

Policy-oriented and intellectual, Akufo-Addo is favored by the young and urbanized voters. He was educated in England and comes from a privileged family. The ruling party has depicted him as elitist, which Akufo-Addo calls “a little PR construct.”

“The idea that merely because you are born into privilege that automatically means you are against the welfare of the ordinary people, that’s nonsense,” he said.

Ghana had one of the fastest growing economies in the world in 2011. Allegations of corruption against the ruling party are rife.

Akufo-Addo said that if elected, he would not be able to weed out corruption in the government overnight.

“It’s a long fight,” he said. “But we build the institutions that can fight it.”

He said that in 30 years in politics he has never been accused of corruption.

Many analysts believe Mahama and Akufo-Addo are neck-and-neck.

Results are expected to be announced by Sunday, but could be delayed. If no one wins an absolute majority, a second round of voting will be held on December 28.

All candidates have signed a peace pact and have promised to accept the results of Friday’s poll.

Ghana, a nation of 25 million, has previously held five transparent elections in a row. Nearby Mali, which was also considered a model democracy, was plunged into chaos this March following a military coup.

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Associated Press writer Francis Kokutse contributed to this report from Accra, Ghana.

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Samsung files redacted copy of Apple-HTC deal in U.S. court

(Reuters) – Lawyers for Samsung Electronics Co Ltd filed a redacted copy of a 10-year patent licensing agreement between Apple Inc and Taiwan’s HTC Corp in a U.S. court late on Wednesday following a judge’s order.

The Korean electronics company had earlier filed a motion to compel Apple — with which it is waging a bitter legal battle over mobile patents across several countries — to reveal details of a settlement that was made with HTC on November 10 but which have been kept under wraps.

The court last month ordered Apple to disclose to Samsung details of the legal settlement that the iPhone maker reached with HTC, including terms of the 10-year patents licensing agreement.

Legal experts say the question of which patents are covered by the Apple-HTC settlement, and licensing details, could be instrumental in Samsung’s efforts to thwart Apple’s subsequent quest for a permanent sales ban on its products.

The redacted copy excludes key specifics such as the royalty payments HTC would have to make to Apple for using some of the U.S. company’s patents. Also excluded are details of some of HTC’s covered products that were part of the licensing deal.

The court order had stated that “only the pricing and royalty terms of license agreements may be sealed.”

However, Samsung lawyers said in the filing that they had withheld a few other details of the licensing agreement as requested by Apple and HTC.

As per the Apple-HTC agreement, the licenses do not include Apple’s design patents, according to a filing made with the District Court of Northern California.

Apple and HTC also agreed to fully paid-up, royalty-free, non-exclusive, non-transferable, non-sublicensable licenses to certain of the other’s patents.

Apple has agreed not to initiate legal action over some of HTC’s covered products. The details of the products were not disclosed.

The copy of the Apple-HTC deal filed with the court “incorporates redactions HTC requested and the redactions Apple requested, which are a subset of HTC’s redactions. Samsung takes no position on whether the redactions are appropriate at this time,” Samsung’s lawyers said in a filing.

If all the Apple patents are included — including the “user experience” patents that the company has previously insisted it would not license — it could undermine the iPhone maker’s efforts to permanently ban the sale of products that copy its technology.

In a previous court filing, Samsung argued that it was “almost certain” that the HTC deal covered some of the patents involved in its own litigation with Apple.

The case in U.S. District Court, Northern District of California, is Apple Inc v. Samsung Electronics Co Ltd et al, No. 11-1846.

(Reporting by Sakthi Prasad in Bangalore and Poornima Gupta in San Francisco; Editing by Richard Pullin and Ted Kerr)

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Kate leaves hospital after morning sickness

LONDON (Reuters) – Prince William‘s pregnant wife Kate left the King Edward VII hospital in central London on Thursday where she had spent four days being treated for acute morning sickness.

Accompanied by her husband, Kate, 30, appeared at the steps of the hospital smiling and holding a bouquet of yellow flowers. Neither she nor William spoke to waiting reporters before being driven way.

Kate, who married the second-in-line to the throne in April last year, has been suffering from Hyperemesis Gravidarum, an acute morning sickness which causes severe nausea and vomiting and requires supplementary hydration and nutrients.

There has been no announcement about when the baby is due, although the prince’s spokesman has said Kate is less than 12 weeks pregnant.

Kate, known formally as the Duchess of Cambridge, will now recuperate at Kensington Palace, a royal residence in west London, her husband’s office said.

“She is feeling better but now requires a period of rest,” a royal spokeswoman said. “Their royal highnesses would like to thank the staff at the hospital for the care and treatment the duchess has received,” the spokeswoman added.

The onset of the severe sickness and the need for Kate to go to hospital brought forward the announcement of her pregnancy, sparking a frenzy in the British media and even taking by surprise her grandmother-in-law, Queen Elizabeth, according to reports.

Bookmakers have been quick off the mark to lay odds on a name for the unborn baby, who will be third in line to the British throne after William and his father Charles.

The government is passing legislation in time for the birth to change historic rules of succession so that males no longer have precedence over a female sibling.

There has even been speculation that Kate could be carrying twins, as the acute sickness she is suffering is slightly more common in twin pregnancies.

World leaders including U.S. President Barack Obama were swift to follow British Prime Minister David Cameron in sending their congratulations.

(Reporting by Tim Castle and Stephen Addison, editing by Paul Casciato)

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EADS EGM scheduled for first quarter: source

BERLIN (Reuters) – EADS will call an extraordinary general meeting in the first quarter of next year to seek approval of a planned overhaul of its shareholders structure, a source at the German economy ministry said on Thursday.

Nations in EADS on Wednesday agreed on the biggest shake-up of the European aerospace group since it was founded over a decade ago, opting after years of uneasy cohabitation to put its board and most of its shares beyond public control.

(Reporting by Markus Wacket; Writing by Maria Sheahan)

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